Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | North Richland Hills | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $93,829 | $76,510 | $78,145 |
| Median Personal Income | $93,829 | $76,510 | $78,145 |
| Average income growth | 5.5% | 5.5% | 5.5% |
The median household income in North Richland Hills is about 23% higher than in Texas. Income has been growing faster in North Richland Hills (5.5%/yr) than in Texas (4.8%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in North Richland Hills, Texas grew by 43.1% from 2009 to 2023, reaching $93,829 in 2023. That's an average of about 3.1% per year.
Economic Inequality in North Richland Hills | Gender Pay Gap | Gini Coefficient
| Metric | North Richland Hills | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.587 | 0.570 |
| Male Median Income | $73,318 | $64,517 | $67,746 |
| Female Median Income | $59,924 | $51,419 | $54,793 |
| Gender Pay Gap | 18.3% | 20.3% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In North Richland Hills, it is 0.537, lower than Texas's 0.587, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 22% more than women's income in North Richland Hills, Texas.
Income by Sex Over Time
Since 2009, the income gap between men and women in North Richland Hills, Texas has narrowed from about 24% to 18% in 2023.
Employment
| Metric | North Richland Hills | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 5.1% | 5.2% |
| Working from Home | 14.1% | 12.8% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
The average commute time in North Richland Hills is 25 minutes, longer than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in North Richland Hills, Texas has fallen from 6.2% to 2.8% in 2023.
Conclusion
Considering all these factors, North Richland Hills, Texas has an overall wealth index grade of B, making it somewhat better than Texas, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in North Richland Hills, Texas.
How Rich Is North Richland Hills, Texas?
North Richland Hills has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $93,829, about 23% higher than the Texas average of $76,510.
What is the current median household income in North Richland Hills, Texas?
As of 2023, the median household income in North Richland Hills, Texas is $93,829.
What was the median household income in North Richland Hills in 2023?
In 2023, the median household income in North Richland Hills, Texas was $93,829.
What was the median household income in North Richland Hills in 2020?
In 2020, the median household income in North Richland Hills, Texas was $76,685.
What is the Gini coefficient in North Richland Hills, Texas?
The Gini coefficient in North Richland Hills is 0.537. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in North Richland Hills, Texas?
Since 2009, the income gap between men and women in North Richland Hills, Texas has narrowed from about 24% to 18% in 2023.